Indian Stock Market Watchlist for May 8, 2024
Dr Reddy's Labs: The pharmaceutical company reported a robust 36% increase in net profit for the March quarter of FY24, driven by strong revenue growth.
The adhesive and sealant manufacturer saw its consolidated net profit increase by 6.3% in the March quarter, marking its sixth consecutive quarter of single-digit growth.
The beverage maker reported a more than five-fold jump in net profit for the January-March period of 2023-24, fueled by increased revenue.
The private power producer witnessed a 29% rise in profit after tax for the quarter ended March 31, 2024, supported by higher revenue.
Voltas: The AC manufacturer reported a 19% decline in consolidated net profit for the March quarter, despite a 42% surge in revenue.
The Vedanta group firm announced an interim dividend of Rs 10 per share, totaling Rs 4,225.32 crore for the current financial year.
Asian-Pacific stock markets exhibited a mixed performance, with Japan's Nikkei 225 and Topix indices declining, while Australia's ASX200 edged up slightly. Wall Street's Tuesday session also saw a mixed outcome.
The Indian stock market is expected to open with modest gains on Wednesday, mirroring the mixed global market trend. Investors will be closely watching the performance of these stocks and the broader market sentiment throughout the day.